The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-04-10
FINANCE AND MINING.
The Foundation Of the Real
Estate Activity.
EASTERN CASH IN THE MARKET.
Bonds Jumping Resume of
the Weeks Mining.

quiet in mercantile quarters, though
there is a hopeful feeling evident onsall
| sides.
| The features of the week have been
the organization of the Board of Trade
and the lively inquiry in real estate
circles. Concerning the first, the pros
poets are somewhat beclouded by the
lack Of unity in business circles, ard
the future of the institution-which
otherwise would be assured-is rendered
a matter of uncertainty. Deplore it as
much as We may, the fact exists that one
side will enter into no mutual business
arrangem ent while the other devotes
itself to agitation, and the other seems
to consider that agitation to be of para
mount Importance to business unity.
The real estate market presents some
curious features. To ascertain definitely
what there was to the much talked of
sales IN every quarter, visit was yes
terday paid to the county records, where
1t was learned that a great part of the
activity thus far has been confined to
preliminaries; the actual transfers of
property are but little heavier than
usual, though the recorder said the in
qulries, searching for titles and dem and
for abstracts were so lively as to evince
an approaching activity. 1t is this,
doubtless, which has caused the number
of new real estate agencies which have
lately sprung up, and which monopolize
material part of The HERALD this
morning. The foundation for the re-
awakened interest in real estate is with
out doubt the visits of several eastern in
Vestors who are looking for purchases in
towns whose futures are assured. Ka1 sas
City, Omaha, and Los Angeles are the
three cities where foreign capital has
Lake too has begun to attract attention.
long ago and, convinced that our boem
must come, made a few good
purchases and took number
of careful notes on the situation. A
wealthy eastern merchant, BemIs, by
name, spent some time here few
weeks back, and looked at number of
bargains. Unfortunately his first in
quiries we're regarding sewerage, SANTA
ton and water supply, points on which
investors are singularly tenacious, and
while he expressed himself to the effect
that progressive city administration
would borrow a million or two and
make the improvements which must
bring the boom, and believed that
Sooner or later that would be done-he
only skirmished, took notes and did
little or no purchasing. A Mr. Layton,
from Iowa, last weeksinspected the lots
in the lower portion of the city, near
the drive and made some offers
which are being considered; an
other investor, from Cincinnati,
is nightly qs expected ted By real sbs
tangible parts of all the real estate talk
heard on the streets; good many
people and an evening contemporary
in particular, are allowing their wishes
to run away with their strict regard for
truth; if trouble were taken to consult
the records, it would be found that the
fabulous figures heard on all sides are
purely Imaginative. Last night it was
given out that Little's Row had been !.
sold for $4,000. The truth is, we are
assured by Mr.. Little, that local
dealer has paid $500 forfeit for thirty
days on the chance of making the sale;
the chance is good. but is not yet con-
summated. A Chicago party is at
present. making number of inquiries
here which will doubtless result ia some
purchases, but as yet they are not con-
summated. AS before stated, the pres
ent activity is caused by number OF
eastern investors placing their money In
town whose future they have the good
sense to see is an assured one. 1t has
not yet taken on the form of genuine
Omaha, Kansas City or Los Angeles
real estate boom; that can only come
from an influx of new population, or
from the starting up of some new Abusl-
ness enterprises.